The case involves an application (IA No. 586/2019) filed in relation to a Corporate Insolvency Resolution Process (CIRP) initiated against Shree Raghav Ispat (India) Private Limited. The application seeks approval of a resolution plan that has been approved by the Committee of Creditors (CoC) with 100% voting rights. The resolution plan outlines the amounts provided for stakeholders, including insolvency resolution process costs, workmen dues, and payments to operational and financial creditors. The plan also includes a timeline for implementation and details regarding the management and control of the corporate debtor during the plan's term.
M/s. BMM Ispat Limited initiated CIRP against M/s. Shree Raghav Ispat (India) Private Limited. The CIRP was initiated under CP (IB) No.126/9/HDB/2017. M/s. Shree Raghav Ispat (India) Private Limited is the corporate debtor. The Committee of Creditors (CoC) approved a resolution plan with 100% voting rights. The resolution plan includes provisions for payment of insolvency resolution process costs, debts of operational creditors, and management of the corporate debtor's affairs. The resolution applicant is M/s. Amarsons Pearls & Jewels. The resolution plan offers Rs.584.55 lakhs, which is more than the liquidation value of the assets of Rs.561.00 lakhs. The RP submitted that the resolution plan complies with the provisions of the Insolvency and Bankruptcy Code 2016
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CIRP initiated…
The members of CoC in the 10th CoC meeting…
The case involves an application (IA No. 586/2019) filed in relation to a Corporate Insolvency Resolution Process (CIRP) initiated against Shree Raghav Ispat (India) Private Limited. The application seeks approval of a resolution plan that has been approved by the Committee of Creditors (CoC) with 100% voting rights. The resolution plan outlines the amounts provided for stakeholders, including insolvency resolution process costs, workmen dues, and payments to operational and financial creditors. The plan also includes a timeline for implementation and details regarding the management and control of the corporate debtor during the plan's term.
M/s. BMM Ispat Limited initiated CIRP against M/s. Shree Raghav Ispat (India) Private Limited. The CIRP was initiated under CP (IB) No.126/9/HDB/2017. M/s. Shree Raghav Ispat (India) Private Limited is the corporate debtor. The Committee of Creditors (CoC) approved a resolution plan with 100% voting rights. The resolution plan includes provisions for payment of insolvency resolution process costs, debts of operational creditors, and management of the corporate debtor's affairs. The resolution applicant is M/s. Amarsons Pearls & Jewels. The resolution plan offers Rs.584.55 lakhs, which is more than the liquidation value of the assets of Rs.561.00 lakhs. The RP submitted that the resolution plan complies with the provisions of the Insolvency and Bankruptcy Code 2016
…CIRP initiated…
The members of CoC in the 10th CoC meeting…